Seoul/Singapore – Viacom International Media Networks and SBS Media Holdings are forming a joint venture that will see localized Korean-language versions of MTV and Nickelodeon, distributed as part of SBS’ bundle of cable and satellite television channels. MTV Korea will be co-branded as SBS-MTV, featuring music and youth-oriented local and international content from both networks, while Nickelodeon Korea will become the first children’s channel to be offered as part of SBS’ bundle. SBS will own 51 per cent of the joint venture, while Viacom will have a 49 per cent share. Full programming details for both SBS-MTV and Nickelodeon will be announced at a date closer to the channels’ December launch.